ST Engineering Profits Up, Despite Maritime Drag
Singapore Technologies Engineering Ltd (ST Engineering) announced that it registered higher year-on-year profits for its third quarter ended 30 September 2017 (3Q2017).
Group revenue of $1.62b came in with higher Profit before tax (PBT) of $162.9m, up 53% from $106.6m, and higher Profit attributable to shareholders (Net Profit) of $128.4m, up 67% from $76.7m. Higher profits were largely due to the absence of the $61.1m one-off charge incurred in 3Q2016 for its Specialty Vehicle business in China.
A glance at the sectors served by ST Engineerng reveals:
-- Aerospace revenue grew 8% to $608m from $563m
-- Electronics sector revenue was 6% higher at $495m from $466m
-- Land Systems sector revenue was down slightly, $331m versus $350m
-- Marine secttor revenue dropped 22% to $164m from $211m